Serving more than 30,000 retailers with payment services, heidelpay is being acquired by New York-based equity firm KKR for an undisclosed amount
Image: KKR to acquire stake in heidelpay. Photo: Courtesy of Alina Kuptsova/Pixabay.
American investment firm KKR has agreed to acquire majority stake in German fintech firm heidelpay Group, from AnaCap Financial Partners, for an undisclosed amount.
Founded in 2003, heidelpay offers a complete range of payment processing services to merchants. The firm facilitates payment acceptance on behalf of merchants across various payment methods for e-commerce, m-commerce and at the physical point of sale.
heidelpay serves more than 30,000 retailers and marketplace operators, focusing on small and medium-sized enterprises (SMEs) and corporate organisations.
KKR member and EMEA financial services head Daniel Knottenbelt said: “We look forward to working together with Mirko and his highly experienced management team to help heidelpay continue to grow. We see enormous growth potential both organically and through M&A across Europe.
“We will draw on our deep sector knowledge, track record of working with founders, and our expertise through 20 years of investing in Germany to further shape heidelpay’s unique profile.”
heidelpay founder and CEO Mirko Hüllemann and other key managers will continue as long-term shareholders in the firm.
Investment from AnaCap supported heidelpay in developing its platform
Investment from AnaCap propelled heidelpay to develop its omni-channel platform and complete range of payment products. The firm claims that it can play a key role in consolidating the fragmented European payments market.
With support from KKR, heidelpay intends to expand its market share in the payments value chain, both organically and through strategic mergers and acquisitions. The New York-based private investment firm will also support heidelpay’s technology platform and product innovation roadmap.
Hüllemann said: “We set out to become a market leader in omni-channel payment processing across the DACH region and with AnaCap’s powerful support we have reached our goal in a very short time frame.
“We are very excited to have attracted renowned global investor KKR to support us in the next stage of our growth journey. With its long-standing experience in financial services and technology, and its deep international network, we firmly believe that KKR will help us approaching larger customers and shaping the payment landscape globally.
“In my role as CEO and partner I’m looking forward to working with a fantastic management team in the next years.”
Subject to regulatory approval from the German Federal Financial Supervisory Authority, Commission de Surveillance du Secteur Financier (CSSF), and other customary closing conditions the deal is expected to be closed in the first quarter of next year.